Approach to build business

Spread the Wealth. Be Fearless. Be Inspired. Innovate!

Have you thought about your approach to business for the new year? To start 2023 off, let’s discuss four approaches that will help you boost your business in 2023 – create a generational wealth plan, practice fearlessness, learn from hugely successful people, and innovate.

Approach to Business One: Spread the Wealth

First, let’s talk about generational wealth. How are you ensuring that your business’ assets pass down to the next generation? Generational wealth requires strategic thinking, action, and commitment.

  • Think strategically about the activities and processes that make your business more functional and successful. Think strategically about the future, at least 30 years out, and make the next generation a part of your planning processes. When you have your plan in place, commit to implementation.
  • Develop multiple revenue streams. Diversify however you can. The more revenue streams you have, the more you can fill the generational wealth pipeline.
  • Acquire or merge with a new company. Develop precise reasons for acquiring or merging with another company and be sure they complement your current business goals.
  • To ensure the success of your merger or acquisition, you must be fair to all parties. Be aware of existing workplace cultures and address any concerns from both sides. Listen to all key players and be careful not to damage relationships.
  • Take advantage of legacy wealth planning. After implementing your generational wealth-building business plan, think about an exit strategy. Be sure to involve and educate all affected parties to ensure that the next generation can properly carry on your legacy.
  • Click here to check out my podcast episode for additional information.

Approach Two: Be Fearless

I learned a great deal surviving cancer. It’s no secret that receiving a cancer diagnosis can be one of the most life-altering experiences any person can face. When I was diagnosed with cancer a few years ago, I experienced many emotions. Yet the one emotion that surprised me the most was fearlessness. That’s right, fearlessness in the face of extreme adversity and all the unknowns that came with my diagnosis. Cancer forced me to focus on and live in the now. Here are some lessons I learned while battling cancer:

  • It’s okay to take a break. It’s okay to take time for yourself – even if it means stepping away from your career. It’s important to focus on your health and well-being, and taking a break can make you stronger in the long run.
  • Find the good in everything. Focus on the good. Cherish every moment, even the small ones. It’s often the little things that make the biggest difference.
  • Be appreciative. Life is precious, and every moment should be savored. Be grateful for what you have, even when it doesn’t seem like much.
  • Don’t let anyone steal your joy. Where others might flounder and falter in situations similar to mine, rely on what you do best. Also, lean on your deep faith. A grounded community can lift you up when you least expect it.
  • Click here to listen to my podcast about fearlessness.

Approach Three: Find Inspiration

Over the past 25 years, tennis powerhouse Serena Williams built a personal brand synonymous with greatness, tenacity, success, determination, and inspiration. These attributes inspire me. When building and sustaining a company or its brand, you need to strategically build your messages and instill your company values into everything you do.

  • Build your culture. Your culture and core values should match your brand. Ask yourself, what is the desired mindset of your business that you want to create in your customers?
  • Define your story. Identify what you want your brand and marketing narrative to communicate to your audience.
  • Provide exceptional service. Make clear what you do and what your consumers should expect from you and always provide the best possible service to them.
  • Deliver a memorable experience. Identify your brand’s touchpoints (physical and digital) and use them to create great customer experiences.
  • Establish your identity. Once you follow the above four steps, make sure to establish your identity. Finalize the logo, colors, taglines, fonts, and imagery that reflect your brand’s personality.
  • Click here and listen in on how Serena inspires me.

Approach to Business Four: Innovate

If you’re an entrepreneur who seeks to develop and launch new products and/or services, you can capture the world’s attention by disrupting the market as well as your industry. It pays to innovate. Think outside the norm. Create and introduce fresh and innovative products and/or services to the market, and then promote them in fresh and innovative ways. Innovate with intentionality. Here is a link to my podcast episode around innovation.

When you’re intentional about what you’re doing, you’ll be sure to succeed.

Here’s to a great new year.

Your Marketing Momma,

Cheryl McCants ~ Impact Founder and CEO

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